Tullow Oil Plc · LSE:TLW
Tullow Oil — Corporate Update (August 2019)
8 slides from Tullow Oil's corporate update, August 2019
Slide 1: Guyana exploration – Jethro-1 well result
Guyana exploration – Jethro-1 well result JETHRO-1 WELL RESULT
Slide 2: Disclaimer
Guyana exploration – Jethro-1 well result DISCLAIMER This presentation contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas exploration and production business. Whilst Tullow believes the expectations reflected herei
Slide 3: Introduction to Guyana
Guyana exploration – Jethro-1 well result INTRODUCTION TO GUYANA Industry hot-spot proven by giant Stabroek oil discoveries Shelf-edge acreage; shallow water; excellent reservoir quality Multiple prospects up-dip of existing discoveries High-quality seismic; low-cost wells; simple developments Stron
Slide 4: Jethro is the first success in Tullow's acreage
Guyana exploration – Jethro-1 well result JETHRO IS THE FIRST SUCCESS IN TULLOW’S ACREAGE KANUKU ORINDUIK NON-OPERATED OPERATED 37.50% 5,165 60% 1,776 equity sq km equity sq km >1.5Bbo CRETACEOUS >2.5Bbo TERTIARY gross unrisked target in 2019 gross unrisked discovery & targets in 2019 resources reso
Slide 5: Jethro well discovery
Guyana exploration – Jethro-1 well result JETHRO-1 WELL DISCOVERY 55m 1,350m 4,400m ~$30m 50 days net pay water depth well depth net well cost drill time JETHRO RESULT Significant oil discovery Excellent sandstone reservoirs Clear seismic definition Results de-risk Tertiary plays Potential upside in
Slide 6: Jethro-1 result: de-risking of the Tertiary play
Guyana exploration – Jethro-1 well result JETHRO-1 RESULT: DE-RISKING OF THE TERTIARY PLAY VALIDATION Confirms geological model Verifies seismic interpretation WHAT DOES IT MEAN? Extends industry hotspot Multiple similar prospects de-risked Good development economics Options for development using es
Slide 7: Next steps for Guyana exploration programme
Guyana exploration – Jethro-1 well result NEXT STEPS FOR GUYANA EXPLORATION PROGRAMME 2019: two more exploration wells to drill 2020: appraisal options for Jethro discovery Joe targeting prospect in Upper Tertiary play >4BBO Gross mean Carapa targeting prospect in Cretaceous play un-risked resources
Slide 8: Tullow Oil plc
Guyana exploration – Jethro-1 well result Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London, W4 5XT Follow Tullow on: United Kingdom Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: ir@tullowoil.com Web: www.tullowoil.com Slide 8